Technavio has published a new market research report on the global medical transcription market from 2018-2022. (Graphic: Business Wire)

A key factor driving the market’s growth is the increase in healthcare
IT spending. The need for digital documentation and integration of data
led to the increased spending on IT in the healthcare sector. Modern
technologies will increase the effectiveness and efficiency of this
market. Thus, the growth in healthcare specifically in IT spending on
medical transcription will drive market growth.

This market research report on the global
medical transcription marketprovides an analysis of the
most important trends expected to impact the market outlook during the
forecast period. Technavio predicts an emerging trend as a major factor
that has the potential to significantly impact the market and contribute
to its growth or decline.

Voice recognition software can automate the process of transcribing
medical reports. The software converts audio files to text without human
intervention. This software also reduces the efforts by physicians to
record and send voice files for transcription. Despite language
barriers, speed of speech, and incorrect pronunciations, the software
reduces the time needed to transcribe medical reports. However,
transcriptionists will be required to edit and proofread these automated
transcripts.

“Software automated text data is easy to incorporate in information
systems and for sharing information with other healthcare professionals
for further treatment. For instance, Dragon medical speech recognition
software by Nuance Communications has advanced features such as
increased accuracy and vocabulary with a rapid process involving
end-to-end security. This software can also be integrated with almost
all information systems such as EMR,”says a senior analyst at
Technavio.

Global medical transcription market:
Segmentation analysis

This market research report segments the global medical transcription
market by end-user (hospitals and physician groups and clinics) and key
regions (the Americas, APAC, and EMEA).

The Americas held the highest share of the global medical transcription
market in 2017, accounting for a market share of around 48%, followed by
EMEA and APAC. Although APAC held the smallest share of the market, it
is expected to witness the maximum increase in its market share over the
forecast period.

Technavio’s sample reports are free of charge and contain multiple
sections of the report such as the market size and forecast, drivers,
challenges, trends, and more.

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